March 09, 2011

Aiyaz subsidizes Waila City developers

It's always a pity that Aiyaz Sayed Khaiyum's efforts are more disposed towards his style statement rather than what's supposed to be whirring between the ears.

Trying to laud a policy that controls the price of hardware for housing infrastructure, when inflation has just been hiked by revised projections in the central bank, and the economy is stagnant, this too-good-to-be-true directive is indeed just that.

Because if someone is going to be laughing all the way to the bank with 35% reduction on hardware products, it will be his (and Bainimarama's) overnight BFF, Dr Sharifuddin Wahab, formerly of Naim Holdings Berhad, and more commonly known as the Waila City developer.
Hardware prices to boost housing infrastructure
Wednesday, March 09, 2011

The new prices of hardware items under price control comes into effect from the 19th of March will improve the housing infrastructure in Fiji.

Minister for Trade, Industry and Commerce, Aiyaz Sayed-Khaiyum says the average reduction of 35% in hardware products is significant and will have a huge effect on the housing and building industry in Fiji.

Sayed-Khaiyum says the reduction in Hardware prices will not only benefit consumers but hardware suppliers as well.

“We believe that hardware companies now should be more focused on volume based sales as opposed to having huge mark-ups – that’s why price control was brought up at the first place – if we have volume based focus business models that we allow more people to buy more at reasonable prices, it creates a robustness in the economy which is essential – when we have robustness in the economy more people are handling that same money all the time – it creates jobs, it creates sustainability as far as the construction industry is concerned and it benefits everybody including the hardware outlets”

Meanwhile, Commission chairman, Dr Mahendra Reddy says the items brought under price control will vary for different hardware companies.

“The price reduction in the hardware products ranges from zero to 2380% however on the average, the hardware prices will go down by 35% - we are looking at a range of hardware products – it ranges from 645 products per hardware outlet to 2220 products – so some hardware outlets will have only 645 products under price control while others may have 2200 products under control – this is because the number of different brands they carry”

Reddy says with the new pricing, consumers will be able to save as much as 25% of their initial costing’s when building a house or carrying out renovations in as far as hardware materials is concerned.

The category of products which are brought under price control are cladding and boarding, concrete blocks, electrical items, fasteners, louvers, paints, plumbing, plywood, tiles, tools, timber and roofing.

Report by: Dev Sachindra


Anonymous said...

Good a great opportunity for the average worker to have a decent house of his family.

Keep The Faith said...

@ Anon: Yes it's great IF the average prospective home-owner can cough up the cost of land to build on AND have the disposable income in these times to afford a new house.

If the illegal and treasonous military regime were serious about encouraging housing infrastructure then its the whole gamut eg govt subsidies to help in the purchase of land etc (and not ONLY in Waila).

Anonymous said...

With economy trouble in most parts of the world...Fiji for one could do with much needed development to sustain if not keep our economy it is welcoming to see development such as the waila city, eventuate...and in time i presume this would and should lead to further developments, fiji wide. i'm not exactly pro government or anything, but this might be getting too far..LET US ALL GROW UP AND REALISE THAT THE COUP WAS ANCIENT HISTORY!! AND DEVELOPING WAILA CITY IS HELLOVA A LOT BETTER THAN NO DEVELOPMENT AT ALL!!!...don't you think?

Anonymous said... gang a bunch of sorry sour grapes..GROW UP, THE COUP WAS ANCIENT HISTORY MAN..development of waila city is better than NO DEVELOPMENT AT ALL!!...don't you think?